JPMorgan Chase & Co (NYSE:JPM) has a cautious outlook for the crypto market in 2024, despite expecting Ethereum to outperform Bitcoin due to an upgrade enhancing scalability. The bank believes the SEC's potential approval of spot Bitcoin ETFs may not significantly boost the market, with the Bitcoin halving event already priced in. JPMorgan also notes tentative venture capital funding resurgence and limited DeFi progress in traditional finance integration.